The End of *most* Full Time Appraiser's ?

[Non Sequitur]

If you want to stay in the business going forward, this is the only niche that's growing:

 

[Mile High Trout]

If your only work is F/F residential mortgage work you should be prepared for a significant reduction in the number of assignments over the next few years.

Diversify.

Every appraiser whom buys into this has been conditioned. I mean, we're all susceptible, these are our careers and our livelihoods.

Logic challenge; If there are more housing units then ever before. If valuation complexity rises with the age and never ending alterations to homes neighborhood and infrastructure. If the population continues to expand. And those people continue to engage in mortgage lending and real property related activity. If avm's are not as reliable as more than a century of developed tried and true manual market valuation methodology.

WHY ON EARTH SHOULD APPRAISAL VOLUME GO DOWN INSTEAD OF UP?

They've been reading off the script. A desire to consolidate an industry away from independents towards a corporate model is just that; a desire. A goal. A hopeful intention.

Who's still buying this? They can all go to hell, many of us never bought the story in the first place. We've been fighting to reclaim independent ethical process and break up the monopolies this entire time. It's game time. Write the letters and articles today. Do not wait.

 

[alebrewer]

There are no "casual factors" for the significantly lower fees that AMC 's pay vs. when the same order is sent directly from a lender who does not use an AMC.

Demand and supply will ALWAYS be a causal factor for lower fees (or higher, depending on which side of the demand/supply trend you're on). So stating that lower fees are caused by 'bundled' fees is simply untrue (or at the VERY least, undemonstrated) - no matter how many times you cry its a fact.

True or false that the AMC gets paid a portion from the borrower-paid appraisal fee and the appraiser gets paid the the difference? Taht does not happen with non AMC work.

True. If borrower pays $X and AMC keeps $Y, then by definition, the appraiser receives $X - $Y. Although I'm not quite sure what that proves.

 

[Bobby Bucks]

Don't forget the hybrid appraisers who are completing 10-12 a day at full fee, I think those were the numbers given by one of the alphabet soup recruiters, they always tell the truth. I haven't seen any more posts about it, they must have signed up thousands of new recruits for that gig. I wonder if their E & O carriers have addressed hybrids in the fine print of their policies. This is a business where words matter, even the small ones.

 

[ucbruin]

Don't forget the hybrid appraisers who are completing 10-12 a day at full fee, I think those were the numbers given by one of the alphabet soup recruiters, they always tell the truth. I haven't seen any more posts about it, they must have signed up thousands of new recruits for that gig. I wonder if their E & O carriers have addressed hybrids in the fine print of their policies. This is a business where words matter, even the small ones.

I find those volume numbers....
Just as unbelievable as appraisers posting they are doing 5-8 full appraisals per week....

 

[Mile High Trout]

If you want to stay in the business going forward, this is the only niche that's growing:

Clarification; If you want to stay in this business going forward; If policy corrections do not happen with the pending disbanding of the CFPB, the new FHFA Fannie and Freddie management, the ongoing situation with the fed chairman stays the same, if appraisal modernization continues unabated with new management, the past decade of fraud which has been systematically integrated into the system does not unravel, the class action lawsuits against AMC's will not grow in size and scope if they are successful, the dei incorporated disparate rules based on racial and ethnic lines driving the avm final rule will not be recognized for what they are or reconsidered, that harmed persons civil claims will continue to be stalled out by a corrupt management structure (whom is in part no longer even present) etc etc.

There are so many moving parts being moved right now in real time. Everything which has been stalled out for the last 12+ years since the interagency rules were handed down, they're chips in the air all thrown back up all at once. They have not landed yet.

Do not be naive or disheartened as to think there is not a fork in the road and there are several possible alternative outcomes here.

Write some letters to the agencies. Write articles. Form a form letter you can share that other people can simply click and send. Do what' you're good at. If appraisers are surfing AMC employment boards, they're already dead inside and are probably not worth saving. You can find me as usual, whistling past the grave yard. They're not the boss of me. Don't give the competition too much credit. Have you seen these people operate in real time in person? It's like watching electronics fail after a pepsi is spilled on the desk and the lights go out.

The AMC system will collapse in on itself now that they've gotten what they wanted. The FNMA wholesale lending program, along with what Mr Ford referenced in the blogs thread of the above links also tell the tale. On the inside the gse managers know how F*'d the entire system is and they've been desperately liquidating, pushing pepurchases, filing ficiticious complaints without merit, for some time already now... Blind leading the stupid. They're not going to make it with or without qualified appraisers. The AMC modeling never worked in the first place. And once the liability comes full circle, that will be the end of them and good riddance. Write an article and submit it to the blogs with haste.

 

[Surf Cat]

The fear of a real job and structure to most independent fee appraisers is like Kryptonite to Superman.

Actually, I'm kind of looking that way. The fees are just too low to deal with the risk. At least here in California. It doesn't seem to be a valued or needed service that it once was. More like a hindrance and an annoyance from all sides.... the borrower, the lender.... both sides would just rather skip the whole process.

I thought of doing reviews.... however, the reports I come across are just full of boilerplate, pull from behind adjustments, with no analytical thought process leading to their opinion of value. I believe I'd get frustrated doing that all day long.

The flip side is that I'd have to deal with ageism and my lack of work experience being self-employed for so long. Lol

Maybe I should get a hot dog cart and hang out by the beach and sell hot dogs.

 

[Mile High Trout]

Don't forget the hybrid appraisers who are completing 10-12 a day at full fee, I think those were the numbers given by one of the alphabet soup recruiters, they always tell the truth. I haven't seen any more posts about it, they must have signed up thousands of new recruits for that gig. I wonder if their E & O carriers have addressed hybrids in the fine print of their policies. This is a business where words matter, even the small ones.

Search 'appraisal typing services' online. Appraisers putting their signatures on those products are stacking exponential risk. And it's going to blow back on them sooner rather than later. Jig is up. A storm is coming.

 

[Mile High Trout]

More like a hindrance and an annoyance from all sides.... the borrower, the lender.... both sides would just rather skip the whole process.

I do believe another appraiser posted a meme about that exact point only a few years ago. Here you go.

And I also pushed a few I created myself.

 

[Digger88]

Just as unbelievable as appraisers posting they are doing 5-8 full appraisals per week....

Those are rookie numbers even now UC come on.. It all depends where you live. I remember being a trainee and my mentor bought a multi-cassette tape package on the future of appraising, "we can land on the moon the future of appraising will be automated"

I'm still shocked 2 new construction clients keep sending me back out to the same subdivisions over and over but they tell me their investors require it. And as much as people say it's right around the corner the VA still has our backs.